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IVSI

GradeDNASDAQ Global Market

Applied Finance IVS International Large ETF

Active Equity · Applied Finance · Inception 2025-12-10 · SEC filings

$29.07−0.47 (−1.60%)

As of Sep 23, 2026, 12:49 PM EDT

History starts Dec 10, 2025.History starts Dec 10, 2025.
Intraday session: down, 7 prints from 29.54 to 29.07. Range 29.05 to 29.27. Use the arrow keys to read each point.$29.10$29.15$29.20$29.2510 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$10M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$29.41
52W range
low $25.19high $30.42

The ETF.net IVSI Grade

D

37/ 100

Rank 43 of 57 in International Active Equity⁠

Confidence Low

Six-pillar profile for IVSI. Scores out of 100: Cost 39, Risk 57, Mission not scored, Tradability 16, Holdings not scored, Durability 30. Strongest: Risk (57). Weakest: Tradability (16). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 37 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank35/57 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 57
    Category rank24/57 · top 42%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 16
    Category rank52/57 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 30
    Category rank52/57 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on IVSI

ETF.net Research

DA December 2025 arrival: Applied Finance picking large caps in developed markets outside the US, no index to shadow. Everything here is early days, from the track record to the asset base.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01Simple mandate, plainly stated: long-term capital appreciation from developed markets outside the US, run actively rather than tracking a declared index.
  2. 02Standard 1940 Act stock-fund wrapper, no leverage sleeve or structural quirks flagged in the filings.
  3. 03At 0.65% a year, the fee sits close to what actively managed international ETFs typically charge, not at a boutique premium.

Worth knowing

  1. 01That 0.65% is roughly triple what broad systematic rivals charge (AVDE at 0.23%, DFIC at 0.22%), so the stock selection carries the whole cost gap.
  2. 02Launched in December 2025, so there is no long record to judge and the risk picture rests on a very short history.
  3. 03Small and thinly traded so far, which tends to mean wider spreads and more slippage between the price on screen and the basket underneath.

IVSI Holdings

As of Sep 20, 2026, 8:42 AM
Asset class
Stocks
Holdings
—
Top-10 weight
26%
Largest holding
ASML5.5%

Geography

  • United States29.60%
  • United Kingdom15.28%
  • Netherlands13.11%
  • Switzerland10.21%
  • Canada8.70%
  • Australia7.18%
  • Sweden5.63%
  • Spain5.09%
  • Other countries (5)5.21%

Developed 97% · Emerging 3% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ASMLASML HOLDING NV5.53%325$529K199
002ROP.SWRoche Holding AG3.49%761$333K196
003BHPBHP GROUP LTD COMMON STOCK2.73%6,105$261K32
004—RECRUIT HOLDINGS CO LTD2.29%1,956$219K2
005DTEDEUTSCHE TELEKOM AG-REG2.11%6,215$202K278
006NOVNNOVARTIS AG-REG2.03%1,381$194K6
007—INVESTOR AB B SHS2.00%4,621$191K1
008—MITSUBISHI UFJ FINANCIAL GRO1.96%8,008$187K2
009ALVAllianz SE1.91%352$182K129
010—NOVO NORDISK A/S-B1.88%4,189$180K5
011—TOKIO MARINE HOLDINGS INC1.73%3,114$166K3
012AZNASTRAZENECA PLC1.67%964$160K68
013—BRITISH AMERICAN TOBACCO PLC1.65%2,821$158K3
014ULVR.LUNILEVER PLC COMMON STOCK GBP 0.0311111.58%2,441$151K124
015—ITOCHU CORP1.39%8,744$133K2

Showing 1–15 of 199 holdings

IVSI Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

IVSI$11,489
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. IVSI $11,489. SPY $11,430. Use the arrow keys to read each point.$9,090$10,563$12,035Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IVSI. Periods over one year show the average yearly return.
PeriodIVSI
Year to date+14.9%
1 month−2.1%
3 months+3.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IVSI
YearReturn barIVSI
2026 YTD+14.9%
2025+2.2%

Since listing, Dec 10, 2025

IVSI in the news

ETF.net Research hasn’t filed on IVSI yet — coverage lands here as it’s written.

IVSI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.01 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.01. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.01

IVSI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.53
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

IVSI Cost

Expense ratio0.65%
  • The middle half of International Active Equity funds
  • Median 0.58%

33 of the 55 International Active Equity funds charge less.

IVSI costs $65.00 a year on $10,000. The median International Active Equity fund costs $58.00.